Multifamily Asset in Little
1 NE 78th St, Miami, FL 33138
13-unit multifamily property in Miami's Little River neighborhood.
Type:Multifamily
Property size:
7,496 SFLot size:
0.30 AcresPrice / SF:
$346/SF- Added:
- Mar 3, 2026
- Days on Market:
- 89
- Last Refresh:
- Mar 16 at 2:12 pm
Property Features for 1 NE 78th St
General Information
- Standard status
- Active
- Size
- 7,496 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multifamily
Listing agent Chris Canizares License #3593754
Listing office Fausto Commercial Realty Consultants
Listing date Mar 3, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants
HighLights
- Strategically located in the heart of Little River, one of Miami’s fastest‑evolving urban neighborhoods.
- Stable in‑place income.
- Prominent corner lot with strong visibility.
- Quick connectivity to the Design District, Wynwood, and Downtown Miami.
- Walkability and access to major transit corridors.
- Two‑story building totaling approximately 7,496 SF of living area on a 13,063 SF lot.
Overview
This 13-unit multifamily asset is located in the Little River neighborhood of Miami. Constructed in 1971, the two-story building has approximately 7,496 square feet of living area and is situated on a 13,063 square foot lot. The property is positioned on a corner lot with frontage along NE 78th Street, offering visibility and walkability. It also provides connectivity to the Design District, Wynwood, and Downtown Miami, as well as major transit corridors. The property is currently operating with stable in-place income.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $269.9k | $36.00 |
| − Vacancy | −$18.1k | −$2.41 |
| EGI | $251.8k | $33.59 |
| − OpEx | −$113.3k | −$15.11 |
| NOI | $138.5k | $18.47 |
7,496 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,477 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.06M
$4.43M – $5.90M
NOI $354,189 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.196631
- Latitude
- 25.846614
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 13-unit multifamily property in Miami's Little River neighborhood.
Where is this apartment building located?
The property is located at 1 NE 78th St Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Strategically located in the heart of Little River, one of Miami’s fastest‑evolving urban neighborhoods.; Stable in‑place income.; Prominent corner lot with strong visibility.
